• Pace Morby

How to Buy a House In An Economic Downturn Without Money Down


I’m not going to tiptoe around the topic – here’s how you get into a house without money down.


Find the right seller.

Go talk to a seller of a home that you’ve compared to the rest of the market that can be an investment for you – either for your own personal home or as a real estate investment. See how much money they want for their home.


Depending on the price of the home and what you’re going to do with it, offer to buy their home at their asking price, but the seller will foot the bill. This means that you’ll pay the seller the money they want, but instead of you going to the bank to take out a massive loan, the seller acts as your bank.


They’ll make more money because the money you would have had to pay for interest on a bank loan will be going to them over time (which is how interest works anyway). You won’t owe a bank, won’t have to prove your income or credentials and don’t have to pull your own credit.


There are different creative financing situations that may require you to adapt this approach, but it’s really that simple.


So how do I start creative financing now?

Even if the economy starts to turn, when you may be struggling to pay for gas in your car, pay for groceries or anything else you need to live.


In fact, a lot of home sellers may be keener to sell their homes this way if money becomes an issue for them.


Consider this, if you’re not getting into a home right now because homes are too expensive and you can’t afford a mortgage, there are people who already own homes who may not be able to afford them anymore.


Sellers who are struggling – or who may be struggling in the future – are going to be facing serious repercussions if they lose their homes. Let alone the fact that they already have a serious headache from worrying about losing their homes.


That’s the headache you can solve for them.


Instead of them putting their home on the market and hoping that someone somewhere will qualify to buy it, you can be their hero and buy it right now and provide your seller with a steady stream of income every month while you live in it.





It saves their credit from being destroyed, they can leave on their own terms and be more financially stable.


It also sets you up for success because you’re paying so much less to be in a home than you would pay a bank to have a mortgage. You’re not taking advantage of them, you’re helping them fight this insane market.


Sellers get paid. Agents get paid to do the paperwork. You get a home for a lot less.


Everybody wins and comes out more financially stable – so why aren’t people doing this?


There’s a sense of security that comes to people when they do things the way everyone else does it. But when you follow the crowd, you face the same consequences they face.


So, if friends or family bought properties before 2008 and lost their homes and you were to follow, you face the same problem.


There are just better, safer and more lucrative ways to get things done.


And that’s what the community at SubTo does. We work with each other to create a better place for everyone in the real estate market.


And you could work with us too, if you were a part of our community.